Ogden FHA Loans

OGDEN-CLEARFIELD, UT

FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

For additional requirements as defined by the FHA, click here.

Ogden's 125 lenders originated 4,529 FHA loans during 2021. The total origination value was $1,410,445,000, with an average FHA loan value of $311,425.

Ogden FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Ogden averaged 5.07% for the week of 2022-05-20, compared to the national average (all FHA variants) of 5.352% for the same period.

The average rate for the prior week (2022-05-13) was 5.28% and one month ago for the week of 2022-04-15, the average rate was 4.77%.

The average rate one year ago was 2.84%.

For refis of the same type during the week of 2022-05-20, the average rate was 4.91%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Ogden FHA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Ogden level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 228 2.66% $7,979
UNITED WHOLESALE MORTGAGE, LLC 187 2.68% $9,866
CITYWIDE HOME LOANS, LLC 180 3.07% $11,696
ACADEMY MORTGAGE CORPORATION 159 3.19% $11,458
CALIBER HOME LOANS, INC. 149 2.82% $8,807
FREEDOM MORTGAGE CORPORATION 145 2.75% $6,281
INTERCAP LENDING INC. 142 2.95% $11,208
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 123 3.02% $12,036
SECURITYNATIONAL MORTGAGE COMPANY 122 3.04% $12,835
LAKEVIEW LOAN SERVICING, LLC 110 2.85% $5,596
GUILD MORTGAGE COMPANY 101 2.95% $10,977
RANLIFE, INC. 94 2.86% $10,748
CROSSCOUNTRY MORTGAGE, LLC 75 3.07% $12,455
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 74 3.03% $11,609
VERITAS FUNDING, LLC 73 2.86% $10,920
PRIMARY RESIDENTIAL MORTGAGE, INC. 68 3.18% $11,667
Mr. Cooper ( Nationstar Mortgage ) 60 3.11% $5,941
FIRST COLONY MORTGAGE CORPORATION 58 2.92% $11,688
PENNYMAC LOAN SERVICES, LLC 57 2.92% $6,581
HOME POINT FINANCIAL CORPORATION 55 2.65% $9,865
BROKER SOLUTIONS, INC. 54 2.93% $11,164
AMERICAN PACIFIC MORTGAGE CORPORATION 47 2.95% $9,949
NEWREZ LLC 46 2.83% $7,287
DIRECT MORTGAGE, CORP. 44 2.75% $12,870
PRIMELENDING, A PLAINSCAPITAL COMPANY 36 3.03% $12,600
Network Funding, L.P. 32 2.95% $12,821
J. VIRGIL, INC. 32 2.91% $10,817
GOLDENWEST 32 2.86% $9,404
CANOPY MORTGAGE, LLC 31 2.81% $11,941
Gateway First Bank 28 2.90% $8,854
VILLAGE CAPITAL & INVESTMENT LLC 27 2.74% $4,314
Carrington Mortgage Services, LLC 26 2.94% $9,334
AMERICAN FINANCIAL NETWORK, INC. 25 3.25% $14,655
Bank of Utah 25 3.06% $10,222
MY MOVE MORTGAGE, LLC 25 2.80% $10,098
Century Mortgage Company DBA Century Lending Company 24 2.86% $9,771
LOANDEPOT.COM, LLC 22 3.03% $11,336
Utah Mortgage Loan Corporation 22 3.02% $11,761
UNITED SECURITY FINANCIAL CORP 21 2.70% $7,243
LOANPAL, LLC 20 2.62% $11,319
AMERICA FIRST 20 3.14% $10,162
CORNERSTONE HOME LENDING, INC. 19 3.05% $11,636
SECURITY HOME MORTGAGE, LLC. 19 3.01% $12,305
MOUNTAIN AMERICA 18 2.57% $10,439
SWBC MORTGAGE CORPORATION 16 3.13% $9,753
NBH Bank 16 2.78% $10,297
AMERISAVE MORTGAGE CORPORATION 15 2.76% $11,608
MOVEMENT MORTGAGE, LLC 15 3.03% $9,711
MID AMERICA MORTGAGE, INC. 14 3.12% $3,493
Northpointe Bank 13 3.02% $10,774
AMERICAN FINANCING CORPORATION 13 2.79% $8,280
STEARNS LENDING, LLC 12 2.87% $10,140
VAN DYK MORTGAGE CORPORATION 12 3.15% $11,693
GUARANTEED RATE, INC. 11 2.73% $10,269
DHI MORTGAGE COMPANY, LTD. 10 2.67% $8,994
SUN WEST MORTGAGE COMPANY, INC. 10 2.89% $9,520
FINANCE OF AMERICA MORTGAGE LLC 9 2.79% $10,600
The Federal Savings Bank 9 2.71% $11,864
PANORAMA MORTGAGE GROUP, LLC 9 3.20% $12,113
MOUNTAIN WEST FINANCIAL, INC. 8 3.09% $14,550
EVERLEND MORTGAGE COMPANY 8 2.91% $12,080
SOVEREIGN LENDING GROUP INCORPORATED 8 2.91% $9,129
MORIA DEVELOPMENT, INC. 8 3.25% $8,720
CITY FIRST MORTGAGE SERVICES, L.L.C. 8 2.88% $9,318
CMG MORTGAGE, INC. 8 2.81% $9,757
Nations Lending Corporation 7 3.02% $13,854
HOMEAMERICAN MORTGAGE CORPORATION 7 2.27% $7,572
Paramount Residential Mortgage Group, Inc. 7 3.34% $10,822
First Home Bank 6 2.83% $12,231
Victorian Finance, LLC 6 3.04% $8,783
DATA MORTGAGE, INC. 6 3.69% $13,851
S1L, Inc. 6 3.52% $11,075
Equity Prime Mortgage LLC 6 3.17% $9,078
PLAZA HOME MORTGAGE, INC. 6 2.50% $8,156
BECKAM FUNDING CORP. 5 3.10% $10,723
Hometown Equity Mortgage, LLC 5 4.18% $13,418
INSPIRE HOME LOANS INC. 5 2.75% $16,386
CYPRUS Federal Credit Union 4 2.78% $11,970
HOMEBRIDGE FINANCIAL SERVICES, INC. 4 2.72% $8,686
KELLER MORTGAGE, LLC 4 2.66% $8,975
OCEANSIDE MORTGAGE COMPANY 4 2.75% $3,628
GUARANTEED RATE AFFINITY, LLC 4 2.84% $11,520
Low VA Rates, LLC 3 3.04% $4,277
First Guaranty Mortgage Corporation 3 2.83% $7,363
Barrington Bank & Trust Company, N.A. 3 3.17% $8,054
CHERRY CREEK MORTGAGE, LLC 3 2.92% $3,260
CELEBRITY HOME LOANS, LLC 3 2.83% $9,125
EVERETT FINANCIAL, INC. 3 3.71% $9,285
AXIA FINANCIAL, LLC 3 2.83% $9,463
Commerce Home Mortgage, Inc. 3 2.83% $8,828
BAY EQUITY LLC 3 2.91% $12,237
Flagstar Bank, FSB 3 2.71% $9,270
Amerifirst Financial, Inc. 3 3.21% $7,473
Zions Bancorporation, N.A. 2 3.13% $8,061
Wyndham Capital Mortgage, Inc. 2 2.69% $6,621
BELEM SERVICING LLC 2 2.69% $12,581
Austin Capital Bank SSB 2 3.75% $9,820
UTAH COMMUNITY 2 2.88% $10,505
Magnolia Bank 2 2.94% $12,262
Plains Commerce Bank 2 2.56% $12,742
Strong Home Mortgage, LLC 2 2.38% $7,170
NATIONS DIRECT MORTGAGE, LLC 1 3.75% $19,304
Wells Fargo Bank 1 2.75% $3,461
WESTERN EXPRESS LENDING 1 3.00% $7,899
Willamette Valley Bank 1 3.25% $9,459
GENEVA FINANCIAL, LLC 1 2.75% $8,858
Wasatch Peaks Federal Credit Union 1 2.75% $7,418
Mortgage Research Center, LLC 1 2.63% $6,384
NEST HOME LENDING, LLC 1 3.00% $16,409
CHURCHILL MORTGAGE CORPORATION 1 3.50% $7,490
OCMBC, INC. 1 3.25% $8,708
LENDUS, LLC 1 3.75% $7,920
LAND HOME FINANCIAL SERVICES, INC. 1 3.75% $18,189
Cache Valley Bank 1 2.50% $9,772
DIRECTORS MORTGAGE, INC. 1 3.25% $10,971
JPMorgan Chase Bank 1 2.38% $15,209
Bank of America 1 2.88% $11,452
INTERNATIONAL CITY MORTGAGE, INC. 1 3.00% $8,915
D. L. Evans Bank 1 3.00% $11,266
SUN AMERICAN MORTGAGE COMPANY 1 2.99% $15,990
HOMESIDE FINANCIAL, LLC 1 3.63% $7,908
EAGLE HOME MORTGAGE, LLC 1 3.00% $14,041
U.S. Bank 1 3.25% $10,143
EMBRACE HOME LOANS, INC. 1 2.88% $10,436
GUARANTY HOME MORTGAGE CORPORATION 1 2.50% $8,532

The top Ogden FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 228 FHA loans originated. Their average total fees are $7,979, which is $1,886 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Ogden FHA lenders (with over 10 loans originated) are MID AMERICA MORTGAGE, INC. ($3,493), VILLAGE CAPITAL & INVESTMENT LLC ($4,314), LAKEVIEW LOAN SERVICING, LLC ($5,596), Mr. Cooper ( Nationstar Mortgage ) ($5,941) and FREEDOM MORTGAGE CORPORATION ($6,281).

The lowest rate Ogden FHA lenders (with over 10 loans originated) are MOUNTAIN AMERICA (2.57%), LOANPAL, LLC (2.62%), HOME POINT FINANCIAL CORPORATION (2.65%), QUICKEN LOANS, LLC (2.66%) and DHI MORTGAGE COMPANY, LTD. (2.67%).

Ogden FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
OGDEN-CLEARFIELD, UT BOX ELDER 2020 $646,300 $827,400 $1,000,100 $1,242,900
OGDEN-CLEARFIELD, UT DAVIS 2020 $646,300 $827,400 $1,000,100 $1,242,900
OGDEN-CLEARFIELD, UT MORGAN 2020 $646,300 $827,400 $1,000,100 $1,242,900
OGDEN-CLEARFIELD, UT WEBER 2020 $646,300 $827,400 $1,000,100 $1,242,900

FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).